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Sinna
Mudiripoyina Bewarse
Username: Sinna

Post Number: 22977
Registered: 04-2005
Posted From: 73.73.226.93

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Votes: 0

Posted on Tuesday, July 25, 2017 - 8:24 pm:   
Kubang:

also you need to put all your down payment first and then after that bank will allow drawing funds..


Yes this is right. Meeru 20% down for your $2Million house chestharu kabatti kikiki, so meeru $400K katteyyali first. And when Builder say for his first draw asks $500K, after framing etc is done for example. Then $400K is yours, and then $100K fro your Approved construction loan is given. So next month bill vachinappudu aa $100K meeda 5% around interest meeru kattali.

So for around $300K you take for construciton loan, over 5 months period of your house contruciton you will end up paying around $3k and also $2k+ in COntruction closing costs, different from Mortgage Closing.
Naa Gunde Aadinaa... Aaginaa Nee Kosame...Balayya

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